sellers
This is a general guideline to closing costs. Consult your attorney for complete break out of the costs.
Condominiums
Own Attorney: $1600 and up Flat fee or hourly Fee
Processing Fee: $450
NYC Transfer Tax:
Residential:Up to $500,000 = 1%; $500,000+ = 1.425%
NY State Transfer Tax: $4 per $1,000 of price
NYS Equalization Fee: $75
Miscellaneous Title Fees: $200-$500
Pick-up/Payoff Fee to Title Closer: $100-$300
Co-ops
Own Attorney: 1600 and up Flat fee or hourly Fee
Co-op Attorney: $450+
Flip Tax: Typically 1% to 3% of price (if applicable)
Stock Transfer Tax: $0.05 per share
NYC Transfer Tax:
Residential:Up to $500,000 = 1%; $500,000+ = 1.425%
NY State Transfer Tax: $4 per $1,000 of price
NYS Equalization Fee: $75.00
Pick-up / Payoff Fee: $250-$500
UCC-3 Filing Fee: $100
Townhouses and Single Family Homes
Own Attorney: 1600 and up Flat fee or hourly Fee
NYC Transfer Tax: Residential: Up to $500,000 = 1%; $500,000+ = 1.425%
NY State Transfer Tax: $4 per $1,000 of price
NYS Equalization Fee: $75
Miscellaneous Title Fees: $200-$500
Pick-up / Payoff Fee to Title Closer: $100-$300
